33 replies to this topic

[libertas]

Sure. That's what happens in a bull market. The crowd piles in and so do the "pros." But it only counts when you sell.

[da_cheif]

Sure. That's what happens in a bull market. The crowd piles in and so do the "pros." But it only counts when you sell.

so are you long here?

[libertas]

Me? No, of course not. Remember buy low and sell high? Well, this is high. Could it go higher? Of course. But it will go lower, of that I am sure. I just don't know when. I trade for a living, not to brag to my buddies. I do have a long position - long Treasury zeroes, which I expect to be a double within the next  12-18 months.

 

You don't have to sell at the top or buy at the bottom to make money. You do have to be patient and accept drawdown when it comes without flinching. That's too hard for most people. The fact that the "pros" have no choice but to be long is a problem for them. I can simply say that prices are too high and there is too little fear, so I'm out.

 

And yes, it's boring.  The weather here is crummy so my plane is in the hangar and my sailboat is at her dock. I'm here being annoying. Sorry 'bout that.

Edited by libertas, 05 October 2017 - 02:20 PM.

[redfoliage2]

Obviously Mr. Market had another orgasm on the House passing the budget this morning.   Tomorrow I'd not be surprised to see a gap-down and selling after the news.............

Edited by redfoliage2, 05 October 2017 - 02:37 PM.